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The economy of the State of Texas is the second largest by GDP in the United States after that of California. It has a gross state product of $2.694 trillion as of 2023. [ 7 ] In 2022, Texas led the nation with the most companies in the Fortune 500 with 53 in total. [ 8 ]
The state has yet to return to its pre-pandemic unemployment rate of about 3.5%, even as it leads the country in new jobs created. However, state economic experts say the unemployment rate is an ...
"Texas has been over the past decade the epicenter of the kind of extreme laws," says a spokesman for a national pro-ESG organization.
Texas manufacturing output grew in October, but new orders are declining and the outlook is worsening. Meanwhile, retail sales declined. Signs of trouble: New reports show Texas economy is facing ...
Historically, five major industries shaped the Texas economy prior to World War II: cattle, bison, cotton, timber, and oil. [12] Before and after the Civil War, the cattle industry—which Texas came to dominate—was a major economic driver and created the traditional image of the Texas cowboy.
Energy is a major component of the economy of Texas. The state is the nation's largest energy producer, producing twice as much energy as Florida , the state with the second-highest production. It is also the national leader in wind power generation, comprising about 28% of national wind powered electrical production in 2019.
There’s a simple, bipartisan solution that’s a win-win for Texas families and our Texas economy. Since 2008 , the federal government has extended work permits to spouses and children of U.S ...
Nationwide data from the U.S. Energy Information Administration [7] shows that Texas's electric prices did rise above the national average immediately after deregulation from 2003 to 2009, but from 2010 to 2015, prices dropped significantly below the national average price, with a total cost of $0.0863 per kWh in Texas in 2015 vs. $0.1042 ...